Fortive Strengthens Its Healthcare Software Solutions with Acquisition of Provation
Industrial technology conglomerate Fortive has completed its acquisition of Minneapolis-based Provation Software, a leading provider of clinical workflow software solutions used in clinics and ambulatory surgery centers. Fortive paid $1.425 billion in cash to bring in Provation, hoping it will bolster its software development capabilities and boost its Advanced Healthcare Solutions segment. Provation has developed advanced solutions to improve care coordination, reporting and billing accuracy, and clinical productivity. Provation also brings its buyer a customer base of over 5,000 and projected revenue of around $110 million for this year.
James A. Lico, President and CEO of Fortive, said, “The acquisition of Provation represents an important step in accelerating our strategy to provide hospitals, ambulatory surgery centers and clinicians with a powerful workflow solutions that meet their most critical needs. We expect Provation’s best-in-class clinical software solution, broad customer coverage and talented team, combined with our deep knowledge of clinical workflows at ASP and Censis, to solve real challenges in delivering quality care. safe and effective health. »
Fortive is now able to take full advantage of its new strength in the growing clinical workflow solutions market. The rise of companies incorporating healthcare IT and EHR based solutions has driven this market to its current zenith.